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December 12, 2012

Many commodities prices moved in a mixed trend on the second business day of the week as many commodities investors are plausibly awaiting for the announcement of the FOMC tomorrow: WTI and Brent oil prices slightly increased yesterday; the prices of gold and silver, on the other hand, declined on Tuesday; natural gas Henry Hub future (short term delivery) fell again on Tuesday; the Euro increased again against the USD on Tuesday. Many other currency pairs including the Aussie dollar also appreciated against the USD.

Here is a summary of the daily developments of precious metals and energy commodities for December 11th, 2012:

Forex and Bullion Markets:

On Tuesday, gold slipped by 0.29% and reached $1,708.4; Silver also decreased by 1.08% to $32.96. During the month, gold edged downby 0.15%; silver, by 0.74%.

On Tuesday,the Euro/USD rose again by 0.52% to 1.3004; the U.S Dollar also depreciated against some other currencies including Aussiedollar by 0.37%.

Energy Commodities:

WTI oil price changed direction and rose by 0.27% to $85.79 per barrel; Brent oil also rose by 0.63% to $108.01 per barrel;

Thus, the difference between Brent and WTI widen again to $22.22/bbl. During the month, WTI decreased by 3.8%; Brent oil, by 3.5%.

Finally, the Henry Hub future (short term delivery) fell again by 1.39% to $3.41/mmbtu.